Mar, 31, 2022 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $25.83 million in total assets. Opened 81 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,571 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TANDEM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 21043 Mound Rd WARREN, MI 48091-2903 |
| Phone: | (586) 759-5050 |
| Fax: | (586) 759-5053 |
| Website: | http://www.tandemfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,571 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4787 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,829,843 |
| CEO/Manager: | Deirdre Taylor |
| Chairperson: | Patricia Swann-Brown |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,550,948 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,834,501 |
| Unsecured Loans | 1,547,667 |
| Other Loans | 3,857,136 |
| TOTAL LOANS | 7,239,304 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,537 |
| Land And Building | 236,442 |
| Other Fixed Assets | 117,927 |
| NCUSIF Deposit | 201,581 |
| All Other Assets | 0 |
| TOTAL ASSETS | 25,829,843 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,088 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 120,300 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,723,271 |
| Regular shares | 18,260,544 |
| All Other Shares & Deposits | 1,382,132 |
| TOTAL SHARES & DEPOSITS | 22,365,947 |
| TOTAL LIABILITIES | 22,487,335 |
| Regular Reserve | 0 |
| Other Reserves | -780,730 |
| Undivided Earnings | 4,123,238 |
| TOTAL EQUITY | 3,342,508 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,829,843 |
| INCOME & EXPENSE | |
| Loan Income | 118,625 |
| Investment Income | 57,071 |
| Other Income | 59,421 |
| Total Employee Compensation & Benefits | 84,892 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 169,289 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 361 |
| Cost of Funds | 7,742 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -2,301 |
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